Heads-Up, Amazon Prime Is About to Get More Expensive
The subscription service raised its prices for the first time since 2018.
It's time to adjust your annual subscription budget. According to CNBC, Amazon Prime is raising its annual fee by $20, and the service will now cost $139 per year. If you are doing the math, that is a 17% increase. If you just let out a little exhale of exasperation, don't worry, so did I.
When Amazon last raised the cost of its annual subscription fee in 2018, it increased from $99 to $119. Before that, in 2014, the service raised its price from $79 to $99.
This increase will also be reflected in people paying for month-to-month subscriptions. The monthly fee will increase from $14.99 to $17.99. This price increase will go into effect for new members on February 18. For existing subscribers, the change to your bill will start on March 25.
Amazon isn't the only company hiking up prices. That's a trend across multiple industries. Stores like Starbucks and McDonald's are raising their prices, and individual goods like orange juice are also getting more expensive.
The increase in cost comes as all businesses are struggling with an unreliable and more costly supply chain. The company seems to be faring well despite those challenges. Amazon Prime has over 200 million subscribers, and the service remains unique as a streaming/shopping/quick shipping all-in-one on the internet. And when the news of the price increase broke on February 3, Amazon's stock rose by more than 14%.
Opheli Garcia Lawler is a staff writer at Thrillist. Follow her on Twitter @opheligarcia and Instagram @opheligarcia.